One of the growers is excited by the price increase caused by the blight because she believes it will increase revenue in this market. as an economics student, you can use elasticities to determine whether this change in price will lead to an increase or decrease in total revenue in this market. using the midpoint method, the price elasticity of demand for soybeans between the prices of $15 and $21 per bushel is , which means demand is between these two points. therefore, you would tell the grower that her claim is , because total revenue will as a result of the blight.
Answer from: Govind4954
One approach to take a gander at anticipated that income changes are would analyze the elasticity of demand for soybeans in this area. The value elasticity of demand measures the responsiveness of buyers to changes in cost. For instance, if customers change their obtaining conduct next to no because of an extraordinary change in value, the demand will be inelastic; yet in the event that shoppers change their acquiring conduct a considerable measure in light of a little change in value, demand will be elastic.
Answer from: Quest
answer; a large down payment,a longer term loan, would result in a lower monthly payment;
Answer from: Quest
Business, 22.06.2019 05:50
1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls
Business, 22.06.2019 06:00
List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.
Business, 22.06.2019 16:00
Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?
Business, 22.06.2019 16:40
Based on what you learned about time management which of these statements are true
One of the growers is excited by the price increase caused by the blight because she believes it wil...
English, 12.03.2020 00:34
History, 12.03.2020 00:34
Physics, 12.03.2020 00:35
Computers and Technology, 12.03.2020 00:35
English, 12.03.2020 00:35